The present invention relates to an improved storage and carrying carton particularly adapted for use in storing and carrying loads of approximately 50-60 pounds. Nails and other metal fasteners and hardware are examples of products typically stored and carried in the cartons of the type to which the present invention relates. These cartons are typically of a “bellows” style and formed of a corrugated cardboard material. Sheets of the cardboard material are cut and scored such that the carton can be readily formed by folding, gluing, stapling or taping. The bottom flaps are typically folded together and secured by the use of glue, staples or tape prior to filling. The top flaps are normally secured by folding the flaps together into a flat disposition over the upper end of the filled carton and a strap formed of a plastic or other suitable material is wrapped about the entire carton and sealed in place. So secured, the strap forms a natural handle, albeit somewhat awkward to use, for lifting the package. Such a design, however, relies on the strap being in place to both secure the carton and provide a lifting handle. Removal of the strap, which is normally achieved by cutting, not only makes the carton difficult to re-close but effectively eliminates the lifting handle. It would be highly desirable to provide a carton that could be as easily formed as the bellows-style cartons currently in use but which provided both a more convenient lifting handle when the carton is sealed and a means for readily re-closing and carrying the carton after the removal of the strap. The carton of the present invention obtains these results.